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  #1  
21st April 2017, 11:07 AM
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What to do if course is not completed due to backlog before repayment period of education loan?


Hello sir, I was taken an education loan of 5 lakh from SBI and repayment period was 6 month after course but due to one year backlog I can't repay the amount before completion of course. What should I do now?




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  #2  
23rd April 2017, 01:23 PM
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Default Re: What to do if course is not completed due to backlog before repayment period of education loan?

Quote:
Originally Posted by Unregistered View Post
Hello sir, I was taken an education loan of 5 lakh from SBI and repayment period was 6 month after course but due to one year backlog I can't repay the amount before completion of course. What should I do now?

You can apply for an extension of time for completion of course from the Bank you received the education loan. They may permit you a maximum period of two years. If the student does not complete the course beyond some period, the sanctioning authority may consider extensions for completion of course. You have to repay the loan to be fixed in Equated Monthly Installments (EMI). You have to contact the bank branch manager for more details regarding extension period.
Do you have any question? or have anything to say?



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